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Author Archives: M. Faizan

Pakistani seamen facing difficulties in obtaining visas to join vessels at ports: Ali Haider Zaidi

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ISLAMABAD: Minister for Maritime Affairs Ali Haider Zaidi has admitted that in recent years, due to strict visa policies Pakistani seamen are facing difficulties in obtaining visas to join vessels at different foreign ports. He stated this during the reply of a question asked by Member National Assembly Abdul Shakoor Shad in the National Assembly meeting. He informed the Parliament that ... Read More »

FBR directs field offices to actively follow pending cases

fbr

ISLAMABAD: Federal Board of Revenue (FBR) directed the field offices to actively follow the cases pending at various fora and assign the cases to advocates possessing profound knowledge and good reputation. Federal Board of Revenue also directed the field offices to pass orders strictly in line with applicable law and file references involving question of law only and follow the ... Read More »

FBR four field formations failed to deduct WHT Rs483.28m from nine tax payers

withholding tax (WHT)

ISLAMABAD: Federal Board of Revenue (FBR) four field formations including Karachi and Hyderabad failed to deduct withholding tax worth Rs483.28 million from nine taxpayers. Sources told Customs Today that Federal Board of Revenue directed these field formations to take action as per law to recover the loss and fix responsibility against officials at fault. According to details nine taxpayers under ... Read More »

FBR detects 3798 non-registered persons having industrial electricity connections

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ISLAMABAD: Federal Board of Revenue has detected 3798 non registered persons having industrial electricity connections liable to be compulsory registered under the sales tax and income tax laws. These non-registered persons having industrial connections fall in the jurisdiction of Lahore Electric Supply Company (LESCO) and Islamabad Electric Supply Company (IESCO). According to details, these persons and their companies are paying millions ... Read More »

Auditor General asks FBR to withdraw sales tax exemptions

sales tax

ISLAMABAD: Auditor General of Pakistan (AGP) recommended to the Federal Board of Revenue (FBR) to withdraw sales tax exemptions on certain sectors including imports and especially zero-rating of sales tax on dairy and meat products. The Auditor-General further stated dairy and meat are the two fast-growing sectors of the economy while livestock including dairy, poultry and meat contributes roughly 12% towards ... Read More »

PM office seeks suggestions from FBR to waive-off tax on disabled persons

Taxcut

ISLAMABAD: Prime Minister Office, while taking notice on a complaint of a poor citizen, has directed Ministry of Commerce (MoC) and Federal Board of Revenue (FBR) to submit recommendations to waive-off tax on items being used by the disabled persons. Proposals have also been sought to waive-off income tax on the income of such government employees who have a severe ... Read More »

Govt directs MoC to release entire collection of export development surcharge

tax revenue

ISLAMABAD: Government directed the Ministry of Commerce (MoC) to release the entire collection under the head of export development surcharge for utilization for the specific purpose to boost the export of the country and develop a mechanism for the reconciliation of export development surcharge. Sources told Customs Today it was observed that rules and procedures governing the collection and remittance ... Read More »

AGP expresses displeasure on BTB for not broadening tax base

tax net

ISLAMABAD: Auditor General of Pakistan report has expressed dismay on the performance of Directorate General of Broadening Tax Base (BTB) Federal Board of Revenue and recommended for enhancing the tax base as there is need to evolve a mechanism for those persons, industrial and commercial consumers who are liable to compulsory registration under the tax laws. In a special audit ... Read More »

34% of tobacco sector paying just 2 percent tax, Chairman FBR briefs Senate Committee

FBR chairman Jahanzeb

ISLAMABAD: The Senate Special Committee rejected the tax department briefing on the matter of declining of production of tobacco sector and submitting fewer taxes by them. The special committee meeting was held at Parliament House under the chairmanship of Senator Kalsoom Parveen. Chairman Federal Board of Revenue (FBR) Jahanzaib Khan informed the committee that 66 percent people are doing legitimate ... Read More »

Difference in tax statements filed by Zong, Jazz, Ufone, Telenor pointed out

audit

ISLAMABAD: It has been revealed that six telecom companies including Jazz, Ufone, Telenor, Warid and Zong under the jurisdiction of Large Taxpayer Unit Islamabad had declared the huge amounts of withholding taxes in their annual income tax return which was higher than the figure of income tax withheld as shown by their corresponding withholding agents as per data available on ... Read More »

Auditor General asks FBR to bring NLC & FWO under tax net

audit

ISLAMABAD: Auditor General of Pakistan Javaid Jahangir has recommended to Federal Board of Revenue to bring National Logistic Cell (NLC)  and Frontier Works Organization (FWO) under tax net by invoking Article 165 A of the Constitution of Islamic Republic of Pakistan instead of granting exemption under section 49 (4) of the Income Tax Ordinance, 2001 Sources told Customs Today that ... Read More »

Rawalpindi I&I shows outstanding performance, seizes goods worth Rs7405m

zahid-Khokar

RAWALPINDI: Directorate General of Customs Intelligence and Investigations showed tremendous and historical performance under the guidance of Director General Muhammad Zahid Khokhar during the first six months (July to December) of the Current financial year (2018-19). Sources told Customs Today that Member Customs Dr. Jawwad Awais Agha has lauded the performance of the directorate. The biggest action in the history ... Read More »

Pakistan allows re-export of impounded seized vehicles to Qatar Embassy

new cars

ISLAMABAD: Pakistan keeping in view the bilateral relations with the State of Qatar has decided to give permission to the Qatar Embassy to re-export the seized vehicles by the Directorate General Customs intelligence and investigation Rawalpindi. Pakistan Foreign office in reply to a show-cause notice has proposed to the Collector of Customs Adjudication Islamabad that ‘keeping in view our bilateral ... Read More »

FBR field formations adjust wrong adjustment of input tax worth Rs2266m

tax adjustment

ISLAMABAD: Federal Board of Revenue field formations Lahore, Multan and Karachi adjusted tax amount of Rs2266 million on wrong claimed adjustment of input tax by four companies, without fulfilling the conditions of law. According to the details, Federal Board of Revenue took the serious notice of this irregularity and directed to the field formations for expeditious recovery through adjudication proceedings ... Read More »

Director I&I Abdul Waheed Marwat to participate in FATF meeting

ADC Abdul Waheed Marwat

ISLAMABAD: One of the most competent officers of Pakistan Customs Services (PCS) and Director Customs Intelligence and Investigation Rawalpindi, Abdul Waheed Marwat will represent Federal Board of Revenue in Financial Action Task Force (FATF) Asia Pacific group meeting which will be held from January 8-10, 2019. Prime Minister Imran Khan on the recommendation of Finance Minister Asad Umar and Chairman ... Read More »

Member Customs Jawwad Awais Agha lauds performance of Islamabad Collectorate

Jawwad Owais Agha

ISLAMABAD: Federal Board of Revenue (FBR) lauded the performance of the Customs Collectorate Islamabad to achieve revenue collection target and said it has set an example for other collectorates. The Board also hoped that the Collectorate will show the same spirit and performance in the future. Member Customs Jawad Awais Agha extended congratulations on this success and appreciated the performance ... Read More »

Ali Zaidi resolves to make Ministry of Maritime Affairs, KPT corruption-free

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ISLAMABAD: Minister for Maritime Affairs Syed Ali Zaidi has decided to take measures to make his ministry and the department including Karachi Port Trust totally corruption-free. Talking with Customs Today he said that no corruption will be tolerated in the ministry and its departments and warned that stern action will be taken against the corrupt elements. He said ‘if any person ... Read More »

Senate body takes serious notice of mobile phones theft at Faisalabad Dry Port

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ISLAMABAD: Chairman Senate Standing Committee on Interior Senator Rehman Malik has ordered to conduct an inquiry of theft of seized mobile phones at Faisalabad Dry Port. Senate Standing Committee meeting was held under the chairmanship of Senator Rehman Malik. During the meeting, Senator Ateeq Sheikh briefed the committee that how mobiles phones were being stolen from dry port Faisalabad and replaced ... Read More »

Timesaco to launch operation in Pakistan soon

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ISLAMABAD: Chinese company Timesaco is going to launch its operations in Pakistan, huge number of young graduates, jobless experienced persons and youth will get the job and businesses opportunities. The company has invested $10 million initially to start its operations which is equal into Rs1.35 billion. Timesaco is an open and creative ecosystem platform to provide instant services for goods, passengers, ... Read More »

Ministry of Maritime Affairs directs KPT to vigorously pursue case against M.T. ‘Tasman Spirit’

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ISLAMABAD: Ministry of Maritime Affairs has directed the Karachi Port Trust (KPT) management to pursue the court case against the Vessel Company M.T “Tasman Spirit” vigorously and the update position regarding the losses should be reported. It is important to mention here that the vessel M.T. Tasman Spirit, while entering Karachi Port laden with fuel oil, grounded near the entrance ... Read More »